The Final Process

After all of your contingencies have been removed, the lender is ready to fund and the sellers have provided clear title, you'll be asked to bring in the remainder of the down payment (the part that's in addition to the deposit you gave) and the closing costs. You'll also be asked to sign all the paperwork.

The loan documents you will be asked to sign will often be in excess as much as seventy-five pages long and can be quite complex. You should have your agent and/or your attorney present to answer any questions you may have.

There will also be the costs to you for escrow and title insurance. You may find that you are charged for two escrows - one for the home and the other for the lender. There may also be an additional title insurance charge for the American Land Title Association (ALTA), which the lender may require. You should check to see that these costs are as agreed upon when escrow was opened.

After all documents are signed, there may be a day or two delay until title is actually recorded in your name. After title has recorded and all the documents are signed and initialed, you will usually be given the key to the home. It's finally yours! Congratulations.